How to use your credit card

Bit of an exaggeration there but I get your message.

Well, if you really want to end up living in poverty for many months then pay the minimum due or do a partial payment on your credit card! Those are the customers the bank loves more than anyone because they earn the bank the most profits. Interest rates on outstanding credit card balances are the highest amongst any loans offered by a bank. The problem for the banks is that just one level below these customers are the defaulters whom the bank hates more than anyone. People who pay in full are those that the banks neither love nor hate.

I've been using credit cards for absolutely everything nearly 6 years now, and there's one basic rule. If I don't have the money in my bank account or if there's any doubt that it won't arrive before the next cc due date, I won't buy anything. For me, it is just a way to get cashbacks and defer the payment a little so that the cash can be used somewhere else if needed.

If you have no control then don't use it. I have around 45lakhs credit limit did not even spend 0.1% of it. I don't waste money nor spend it on unnecessary things. Buy during deals at best prices use them till they wore out only then buy new things.

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Bro ye to sadiyon se chala aa raha hai. Pahale isko udhar, karj kaha jata tha. Ab credit card, loan, emi bolaten hai. Yes pahale land, jewelry mortgage hota tha but ab nahi hai.

It is important to note the things mentioned by OP. If you are not careful you can get into a debt trap.

I am one of the people who are border line matching the description of what OP mentioned , I use CC for expenses/investment/school fees/anywhere and everywhere where CC is allowed and I don't pay extra than the reward points.

My 80% salary is paid to CC, but I do have a FD with amount equivalent to 6+ months of expenses, but I have never had to use the surplus funds.

I am already living on my next paycheck and may be sometimes beyond the next to next paycheck as well.

Above is not recommended if you are not financially disciplined. I am not saying you should live on next paycheck but telling you that you can exploit CC and make some money (rewards) or use funds for other purpose for 30-45 days.

Simple word you could have mentioned shoulld be "Debit Trap" and ways and means to dept trap is as follows 

1) Upfront credit

2) EMI

end of the post:)

just getting it concise:) 

btw another thing you forgot to mention 

3) Spending spree MINDSET DEVELOPS

spending spree mindset -> we forget reality when doing with credit cards:) so BE CAREFUL OF THIS 3RD POINT, which is spend spree mindset QUICKLY DEVELOPS ONCE YOU GOT A HOLD OF A GOOD CREDIT CARD BEFORE YOU EVEN REALIZE IT ....

ITS TOO LATE 

THE MAJOR CAUSE IS SPEND SPREE MINDSET THIS CREDIT CARD CREATES be careful of it

Eg: meeeeeee

i started spending more with credit cards now... damn... now realized it controlling it

VU+ for awareness of this basic things about credit cards:) A GODLY TOOL THIS DEBIT LEVERAGE BUT WITH A CURSE